Lack of Funds, permanent shutdown
Days in Operation:
Babylon is a community-led asset management protocol that enables users to create investment clubs and invest in DeFi together. It’s built on the Ethereum network and it’s non-custodial, transparent, permission-less, and governed by the community. BABL is the governance token behind it.
The project announced that it will shutdown and commence liquidation process. LP has been removed by the team to be fairly distributed to providers. The team cited the Rari hack as the key driver for the closure.
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